Bloomberg News

Estonia ‘Doesn’t Share Pessimism’ of S&P Debt Downgrade Warning

December 06, 2011

Dec. 6 (Bloomberg) -- Estonia “doesn’t share the pessimism” about the euro region’s future with Standard & Poor’s, which yesterday warned that it may downgrade 15 nations in the currency bloc, the Finance Ministry said.

A credit-rating downgrade “wouldn’t affect” Estonian assets as the government has no plans to borrow from the market, the ministry said in an e-mailed statement today from the capital, Tallinn.

Estonia’ AA- rating, which was raised two notches by S&P in August, may be cut by as many as two notches depending on the result of a summit of European Union leaders on Dec. 9, the debt evaluator said yesterday.

--Editors: Balazs Penz, James M. Gomez

-0- Dec/06/2011 10:08 GMT

-0- Dec/06/2011 10:15 GMT

To contact the reporter on this story: Ott Ummelas in Tallinn at oummelas@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net -0- Dec/06/2011 10:03 GMT


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